Solar company LDK Solar (NYSE: LDK) has entered into an agreement with Yancheng City of Jiangsu Province for the development of up to 500 megawatts (MW) of PV power projects.
According to the agreement, LDK Solar will develop a number of PV power projects, including PV ground-power stations, and roof and building integration systems over the next five years.
The terms, including financing, design and specific location of each of the projects, will require a feasibility study as well as final approval from relevant state departments prior to initiation.
"Yancheng City is currently one of the most important wind power bases in China. Yancheng City possesses the largest coastal area in Jiangsu Province and is rich in natural resources," stated Li Qiang, Mayor of Yancheng City. "We plan to partner with LDK Solar to build large ground-power stations to take advantage of wind and photovoltaics as complementary power sources."
Other Chinese solar panel producers, including Suntech Power Holdings, Canadian Solar (Nasdaq: CSIQ) and ReneSola (NYSE: SOL), have also announced plans in the last few weeks for large-scale solar developments in China.
In July, LDK Solar Co. announced the acquisition of a controlling interest of Solar Green Technology S.p.A. (SGT), a system integrator in the Italian market.
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